Loop Capital analyst Mark Schappel lowered the firm’s price target on Aspen Technology to $230 from $255 but keeps a Buy rating on the shares. The company’s headline revenue and earnings are typically volatile, and the shortfalls in Q3 overshadowed its ACV growth of 9%, an area that "counts", the analyst tells investors in a research note. The firm also sees "some relief" in the management’s unchanged FY23 revenue view, which points to accelerating second-half growth and margin improvement.
Published first on TheFly
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